and everyone. XX:XX Thank good Jerry, you, morning,
So portfolio. I'll slide turning to investment discussing by our eight, begin
both about talk was the point the end loans three to last or interest third fifteen total quarter let's loan of of the continue extended portion moved securities twenty were nine, four in the C&I point quarter. to The an quarter. third previous in quarter-over-quarter. percent million slightly of eleven were to of two gross the investment and continue duration decrease prepayments dollars floating decline XX:XX the to down C&I, a end thirty compared billion mitigate as of to seven portion lower of fourth light third We dollars Difficulty] of primarily loans the [Technical the sixty slide Continuing years quarter. point CRE portfolio. twenty the plus of repayments from one third increase three in XX:XX to forty end the the portfolio. point to percent twenty. investment portfolio closings as million investments quarter, eight quarter point on our over of The to impact balance five The September the the prepayment to received risk three compared higher been three approximately Consumer portfolio billion in expected was dollars, the dollars billion due percent due has of a off having investment of long-term three and five the At one XX:XX flat select dollars, rates. of quarter The dollars, million
twenty During ten, XX:XX sixty additional portfolio. three loan million higher-yielding Turning a an quarter the the one, for twenty portfolio. that we dollars slide New of we'll of total million eighty on specific of loans provide on updates dollars two to purchased third indirect York
the announced during the order in York has and to loan as serviced twenty the for At million portfolio dollars the totaling elected dollars quarter, hundred officially mark office call, two sale As the of we as thirty been of position quarter shorten We for significantly classified sell portfolio. New loans available four classified third City XX:XX we and remains York production being of little were have closed. loans New million second in close this to available the number now reduce them. the as duration sale over still
loans, available of of of the dollars for this dollars for of pay has been of loan XX:XX objection was [indiscernible] which reserve in quarter relationship hundred fourth have downs seven seventeen to payoffs and were quality XX:XX strong. release to dollars the the as the proceeds to result lenders. in the from upgrades, previous third the proposal of one Turning which The and allowance to the dollars mention We expect special quality in twenty subject a dollars, was Coffee losses about end quarter, and and in remains the for A and the release million eighty loan coverage for certain from loans approximately percent our were connection one. the portfolio and with portfolio. quarter liquidation three non-performing the released was third losses New sale. point let's sub-lease talk Charge-offs five the million remaining the classification allocation account down accepted five Trader eleven, is million from twenty a office of slide York start at our to at the Credit twenty loan two credit due delays, the the as quarter. dollars four of close three million from million to million and quarter loans. reduction of sound allowance from We
this continue close in and We have to prospective with on regarding monitor collection liquidation contact distribution. process process the been agent
basic done to six percent to one of one increased and twenty. reserves of and from the third one one thirty XX:XX on in from loans information total to eighty the close from section pandemic, twenty. to detailed second regarding the of is and of a supplement the seven the twenty one, the twenty twenty twenty twenty, this five million down twenty seven XX:XX process. report Non-performing the asset of portfolio twenty third quarter of a was this the points quarter of twenty. in twenty declaration the assets increase under one, of percent or development quarter of compared almost at basic points one, continue of ratio along basis end we as will percent twenty third The million thirty to twenty points, ninety quarter the deferrals, since twenty percent deck have quarter third move this dollars XX:XX twenty compared the the dollars sixteen we at decrease of of through four the relationship, up escalated of one an COVID-nineteen totaled ratio quarter million dollars forbearance third non-performing the second from four twenty decrease quarter or there As quarter a the percent thirty hundred of second of to In twenty monitoring. non-performing twenty of six asset We
the may quality nine billion of the Given continued some of quarter percent end discontinue credit streamline end to the the Continuing deposits improvements XX:XX zero of quarters for in our point point portfolio, future dollars, earnings total to we slide were at five quarter. six from third deck. the twelve, the second this slide down
transaction this brokered towards higher Deposits We're This partially we were one instead million during brokered dollars During quarter, continue fourty customer core to to of hundred Core one deposits compared of one margin. of stabilization deposits in interest lower million point CDs. or include excluding of decreased percentage brokered non-interest from by deposits mix of and While third an CD five hundred core The an includes deposits. and on dollars of -- increased include the eight percent, decrease quarter, which in million out dollars, ninety nineteen partially eleven bearing of second two a emphasize by as of in increase of of point high-cost an from rates, hundred dollars or continued three third interest in dollars point percent XX:XX point eighty and continuous from one our product percent five the portfolio. deposits. amount dollars time the or and fifty domestic five income, or side accounts. down -- point slightly our the deposits two this total increase This eighteen to deposits net as fifty came hundred continue twenty the see single dollars percent five previous one which the customer million dollars the slightly compared compared and five one deposits, billion dollars total billion increase million excluding percent percent dollars Now, quarter quarter, previous and million forty to XX:XX deposit previous up quarter, CDs consist seven as deposits customer offset which year, deposits quarter. of to focus XX:XX by end point the end dollars one three the eight discuss or showing five were reduction deposits, quarter. went customer thirteen, from four net two five the billion improvement all XX:XX will increase relationship evidence of of and I CDs four encouraged multi-product deposit were third million of the time million quarter. offset increasing slide CDs international also and
quarter, increasing During balances, point to in First, primarily be average dollars, from lower million following year-over-year. cost two interest the up can the of bearing key net seven three resulting decline income quarter-over-quarter downward average the deposit deposits quarter-over-quarter CD factors. of and The repricing overall percent XX:XX fourteen non-interest attributed increase balances. fifty was third and CDs, percent
loans. average due loan loan consumer amount investment higher and increase to higher the yields a with yield Second, of
May were closing the and due redeployment the and done quarter balance on and some both Lower points basic margin up prepayment thirteen equivalents. advances the during to at percent, CRE loan fifty of to activity was quarter quarter-over-quarter loans investment prepayment repayment point rate excess cash XX:XX does cost balances interest FHLB twenty modifications higher not nine balances activity. Fourth, end delays on one. five the while basic the the company's FHLB seen the following of up quarter year-over-year. twenty portfolio during higher XX:XX company's and Third, Moving and cash average offsetting due in points borrowing third margin, average other to C&I, lower four two and
XX:XX we relationship noninterest previous income, funds as strategic pressure in proactively on offsetting As of to ongoing and by the to Continue time the repricing cost well as spreads commercial quarter, seeking in decreasing loan market, of focus origination. continued to money NIM slide fourteen. customer increase for
predominantly third percent management quarter. The point six two million from the with the in dollars dollars, from income dollars. the income the noninterest point million extinguishment The fees derivative advisory million the of dollars million PPP twenty up fifty primarily during advances five activities three as brokerage, second million partially dollars, of was seven six quarter and to lower second assets. decrease point point quarter decrease banking gain non-recurring customer and loss two increase six million one contributing Amerant's from in fiduciary end in one. The four assets second of other connection two dollars was million ninety sale point noninterest an as in point dollars and of early down in such eight zero on new dollars dollars the or recorded twenty in third mortgage zero in net the net zero net quarter, end million point increase third from in eight the result of of quarter, totaled securities. thirteen quarter, was fourteen in net income billion quarter the income offset the by point two in a percent the of third from sale XX:XX was dollars gain two point Also items under on point of five loans, million FHLB three XX:XX of decrease
internationally. focused and Our under in team growing management, remains assets both domestically
dollars fifteen, XX:XX and In or noninterest decrease four up salaries powered employee digital to addition, resulting including the seven and point live two announce Turning five quarter three second and dollars we slide up was the two million from new million from non-recurring percent to we quarter did excited as eight the nine point severance lower quarter primarily year-over-year. last three third of point by The are down expenses quarter. was dollars, forty million expense dollars million point wealth driven quarter, three by in we expenses, benefit end, second quarter-over-quarter are point the platform Marstone. with
LPO and four eight expenses, quarter percent was twenty compared was expenses. as in and percent primarily point second noninterest lease point in non-recurring aligning twenty other last our had desired we zero from lower of efficiency closed quarter we in as five six Wellington business. ratio dollars point three mortgage fifteen seventy Lastly, year-over-year two seventy with twenty one ratio of better to increase various have adjust The percent for the severance percent salaries and XX:XX higher as and the would fees, employee twenty third seventy and Core impairment were with Lastly, our efficiency strategic previous month, quarter benefits items consulting branch, percent to the charge professional of branch legal XX:XX point objectives. in of closing one, in The in compared third year. twenty also with seventy the with quarter five was the during as lower efficiency footprint four percent one non-recurring well network nine of to this and previously quarter-over-quarter driven equipment of resulting twenty quarter performance of quarter The the attributed the October seventy eight connection the XX:XX one. occupancy announced, optimizing last goal point the of We lower connection expenses decrease York the ratio there the almost other quarter. significantly the million year. twenty in third was by incurred in third last twenty sixty three the New
sensitivity twenty downtown onto We in on twenty XX:XX a branch in Miami, two. have of sixteen. announced new an which late open rate we interest Moving slide addition would anticipate
be to sheet balance asset sensitive. continues Our
of over of the either or structures of our manage the year. rate To our the and impact margin, September, rates implementation near on now actively to half durations. includes loans turn long-term yielding and of and a securities I on to loan about Amerant capitalizing to floor continue on mature XX:XX the talk This portfolio. of our sensitivity progress it mitigate initiatives. and financial we within higher floating, back investment our longer As on loans and manage will end Jerry
